Kevin Hettrich Sells 9,800 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS) CFO Kevin Hettrich sold 9,800 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $8.06, for a total transaction of $78,988.00. Following the transaction, the chief financial officer directly owned 1,833,902 shares in the company, valued at approximately $14,781,250.12. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Kevin Hettrich also recently made the following trade(s):

• On Thursday, April 2nd, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $6.20, for a total transaction of $60,760.00.
• On Monday, February 23rd, Kevin Hettrich sold 9,800 shares of QuantumScape stock. The stock was sold at an average price of $6.76, for a total transaction of $66,248.00.

QuantumScape Price Performance

NYSE:QS opened at $8.20 on Friday. QuantumScape Corporation has a 52 week low of $3.87 and a 52 week high of $19.07. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of -10.12 and a beta of 2.57. The firm’s 50-day simple moving average is $7.08 and its 200 day simple moving average is $9.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently made changes to their positions in QS. AQR Capital Management LLC acquired a new stake in shares of QuantumScape in the 1st quarter valued at approximately $321,000. NewEdge Advisors LLC boosted its stake in shares of QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock valued at $88,000 after purchasing an additional 7,111 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of QuantumScape by 41.4% in the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock valued at $211,000 after purchasing an additional 9,210 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after purchasing an additional 3,311 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on QS. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and reduced their price objective for the stock from $10.50 to $8.30 in a research note on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research note on Thursday, February 12th. Morgan Stanley reduced their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Finally, TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, QuantumScape presently has an average rating of “Reduce” and an average price target of $11.13.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.